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Booking Holdings Inc. is a leading provider of online travel and related services, operating primarily through its five consumer-facing brands: Booking.com, Priceline, Agoda, KAYAK, and OpenTable. The company offers a wide range of services, including accommodation reservations, flights, rental cars, restaurant reservations, and vacation packages . Revenue is primarily generated from online travel reservation services, categorized into merchant and agency revenues, with a significant portion coming from Booking.com's accommodation reservations . In 2023, the company reported significant milestones, including over 1 billion room nights booked and record gross bookings .
- Accommodation Reservations - Facilitates online booking of accommodations, primarily through Booking.com, contributing significantly to both merchant and agency revenues.
- Flights - Offers online flight booking services through its brands, providing travelers with a range of options for air travel.
- Rental Cars - Provides rental car booking services, allowing customers to reserve vehicles for their travel needs.
- Restaurant Reservations - Operates through OpenTable, offering restaurant reservation and management services.
- Vacation Packages - Combines various travel services into packages, offering convenience and value to travelers.
- Advertising and Referral Services - Generates revenue through KAYAK's referral and advertising services, enhancing visibility for travel-related businesses.
- With growth in the U.S. market described as low single digits and feedback from property managers indicating your platform is more complex than competitors', what specific actions are you taking to simplify your platform for property managers and accelerate growth in the U.S. market?
- As alternative accommodations grow 14% in Q3, how are you ensuring that this growth is truly incremental rather than cannibalizing hotel bookings, and what strategies are you implementing to attract new customer cohorts specifically seeking alternative accommodations?
- Given that social media marketing investments are still a relatively small part of your budget and scaling ROI has been challenging in the past, what strategies are you now employing to sustainably scale your social media marketing efforts while maintaining or improving ROI?
- While you've identified opportunities for operating leverage through managing fixed expenses and leveraging AI, you also mention the need to reinvest in growth initiatives; how do you plan to balance these priorities, and should we expect fixed OpEx to grow slower than revenue over the long term to drive margin expansion?
- Regarding the $365 million accrual related to potential settlement of Italian indirect tax matters, can you provide more details on the issue, its potential impact on future earnings, and how you're addressing regulatory risks to prevent significant unexpected expenses moving forward?
Competitors mentioned in the company's latest 10K filing.
- Airbnb - Competes directly with Booking Holdings' accommodations businesses .
- Vrbo (owned by Expedia) - Competes directly with Booking Holdings' accommodations businesses .
- Google - Competes with Kayak by showing its own meta-search results at the top of its organic search results and offers its meta-search services free to travel service providers .
- Meta-search services - Compete directly with Booking Holdings for customers by aggregating travel search results .
- Large online companies - Including those in search, social networking, marketplace, artificial intelligence, and ride-sharing .
- Travel service providers - Such as accommodations, rental car companies, or airlines, which may offer lower prices on their direct channel than they provide to Booking Holdings .
- Traditional travel agencies, travel management companies, wholesalers, and tour operators - Compete with Booking Holdings in the travel services market .
- Companies offering technology services and software solutions to travel service providers - Including large global distribution systems (GDSs) and hospitality software and payments platforms .
Recent developments and announcements about BKNG.
Corporate Leadership
Leadership Change
David I. Goulden is leaving his role as Chief Financial Officer at Booking Holdings Inc. He will transition to a part-time role as Executive Vice President of Finance from January 1, 2025, to March 31, 2025. During this period, he will receive a base salary of $315,000 annually. His equity awards will not vest after this period .